By Tristan Younghaus, Esq.

Have you ever thought about starting a non-profit?

In 2014 the Internal Revenue Service (”IRS”) drastically changed the process of applying for tax exemption status under Section 501(c)3 of the United States Code by releasing the IRS Tax Form 1023-EZ. The 1023-EZ Form is a new streamlined process for applying for tax exempt status and you can apply on www.pay.gov. Its predecessor the IRS Tax Form 1023 was 26 pages long, which asked very detailed information about the non-profit but the new 1023-EZ Form is less than 3 pages long. Only certain types of non-profits will qualify to use the 1023-EZ Form and I can help to see if you qualify.

Besides simplicity there is a reduced filing fee for the 1023-EZ Form of $400 versus the old 1023 Form that costs $850. Additionally, the IRS has shortened the processing time and usually takes 1-2 months versus the old 1023 IRS Form that used to take up to 2 years. There is some controversy surrounding the 1023-EZ regarding concerns of increased amounts of fraud but it looks like it is here to stay for the foreseeable future.

Coastal Pacific Law attorneys specialize in business advising for non-profit business and Startup owners, and can help draft and revise contracts. To schedule a complimentary consultation, call (619)786-6563, or fill out a Contact Request Form.

The above testimonials do not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.

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